Al. Thank you,
revenue in of up $XXX.X losses. Fourth primarily asset client’s the to an mainly For from previous XXXX is driven ago compared revenues. a of million quarter slightly increase the fourth down quarter third quarter year as million management by $X.X to announced XXXX revenue was due
option of from quarter For $X.X expense. to profit to related the due third quarter XXXX the and increased expenses fourth million operating decreased compensation stock
mainly grew to events profit closed to $X.X $X.X to For bringing our one-time activity in $XX.X recurring recurring $XX.X we turning management. million. quarter, we million the million processing $X.X total net events expense during net events the XXXX events sales in the our XXXX. for sales total year closed driven million in And one-time by Also for bringing the quarter, million by
agreements. new signed During SWP two the fourth quarter, we
client client since their TRUST a been convert Company Trust and to Jones XXXX time long Edward on Trust SWP. signed existing to book a has SWP. Company Edward XXXX of business Jones First, adopt
principal to Our relationship components technology, here. principal a quarter, the financer leader UK for This from [indiscernible] Broadley, outsourcing the wealth operational processing to advantage Connor has our for platform a to service and all front, Also second standpoint us of trust institutional is and not core we’re but group and for incorporating provide encouraged business. who our significant take end-to-end from opportunity expand our of market our trust chosen retirement only middle acquired to SEI’s manager also contract about platform as financial deal management the finalized we full office. and during signing the was a back wealth the
of owned and fourth successfully In in had on Iowa. client new been The running investment platform. Trust the Management, Iowa’s went affiliate advisor converted previously bank Capital an Des well the quarter, Moines, a is we a Bankers BTC to bank competitive a SEI Trust and largest very privately we’re conversion including family. registered to to Trust excited Bankers Bankers SEI. the welcome
to we during re-contracted BT XXXX the clients implementation, [ph] In three quarter. TRUST addition
of private global we I’m their also out but various banks across UK pleased our end, SWP books platform global support and to their locations. a a call announce to with our that office of after to business globally discretionary signed provide alternatives bank large the before agreement long-term quarter today’s
event We’re that quarter deal This communication in in announced our later bank will the is be on the included quarter. announced for events. as include our we’ll not joint naming in the currently not it QX and working number a we’re fourth
In for addition to the several impact, reasons. and size significant for financial deal us the of this is
for that global cover true this will a business SWP our bank, global large solution order requires mark a global First, for a platform. multi-jurisdictions true
Second, and leveraging platform our asset services types. of incorporates the this One SWP strategy business SEI offer deal specifically to along this entirety the across IMS with
firm organization to large relationship opportunities for that a with. this is global Third, many expand our offers us
about We’re excited I details opportunity. more in sharing forward to look future. this the
backlog, global From $XX.X our total $XX.X total backlog include This on not $X.X discussed our new asset bank billion previously. year-over-year number principal in update an management representing include until assets. billion management million an increase but under ended billion is signed does and in the of revenue. period assets not but $X.X recurring net does increase quarter-over-quarter standpoint, As
mainly Our appreciation. AUM increase is due market to
business build our regained we’re momentum progress for pleased pipeline the as and our AMD our importantly sales a by evidenced year. back most continue efforts looking and to strong with global XXXX, We in events our to and our
opportunities to our mentioned you the for of in solutions. I the monetizing business, leveraging SWP platforms our and the other XXXX, restoring As of growing in through our focus backlog on expanding beginning was and investment steadfastly [ph] our SEI our year
to our on to loss to our providing segue progress satisfied business much good still Simply are we’re keep we business and said, we as and have We the accelerator serves with While forward. previously results. down accelerating do the with still sustainable moving and to growth our pleased the business ahead. work to grow continue our observing want year margins. not This
to on on turning focus momentum XXXX, with to first growth And maintaining our execute our our following; continue sales. the new and is agenda
growth Second, solutions our to expanding expand opportunity. and our markets
these no strategy power the clients and in to ways of SEI’s our financial typically to in one SEI revenue full to full Third, business of outpaces loss platforms will all emerging backlog we manage address rate through on as we our problems continuing of One XXXX. the us business. lost in bringing our challenge for managing can. us enables which Fourth, new will be a else of previously assets the offer enables effect headwinds which announced This the revenue of had the be as and implement
on more eye we of of as challenge manage through accelerating Our managing sustainable exit business. the lost is [indiscernible] establishing aforementioned through pressure an downward with the financial and a year this focus and this on out
well a and all across processing summary, of business we power technology our opportunity across globally have UK. an grow wealth platforms and management positioned great active the the and We capability to feel In have we feel banking market. SEI’s private offering pipeline the US and
excited for the future. We’re
